IT exports from T'gana expected to touch Rs 1.4 lakh crore in 2020-21: Minister Rama Rao
IT exports from Telangana are expected to touch Rs 1.4 lakh crore for the financial year 2020-21, state IT and Industries Minister K T Rama Rao said on Sunday as he appealed the Centre to announce an initiative to further boost the IT sector in the state.
By : migrator
Update: 2021-02-28 14:07 GMT
Hyderabad
KTR, as Rama Rao is also referred to, in a letter to Union Minister for Information Technology and Communications Ravi Shankar Prasad said the latest estimates indicate that the IT exports from Telangana are expected to grow over 7 per cent to touch Rs 1.4 lakh crore (about USD 19.1 billion) for the financial year 2020-21.
The national growth rate in the said period, according to NASSCOM, is estimated to be at about 1.9 per cent at USD 150 billion, he said.
Hyderabad saw a healthy 8.7 million square feet of new office space creation during the year, despite the severe impact of COVID-19 on the economy, Rama Rao said.
In terms of the share of sectoral occupiers, the information technology (IT/ITeS) sector including data centres dominated with a major share, followed by banking, financial services and insurance (BFSI) and manufacturing sectors, while other services and co-working sectors also contributed.
''We could attract several marquee companies such as Amazon Web Services, Goldman Sachs, and Fiat Chrysler Automobiles (FCA) to Telangana during the past one year, '' Rama Rao said.
The Telangana government has been aggressively promoting emerging technologies like AI, Data Analytics, IOT, cyber security, Digital entertainment technologies (Animation, Gaming, VFX), Blockchain, he said.
The ongoing pandemic has had a severe impact on several sectors across the globe, but the technology industry in Hyderabad has faced minimum disruption in conducting its activities.
This could be achieved by a proactive partnership between the state government and the industry, Rama Rao said.
He said that on behalf of the Telangana government, numerous appeals were made during the past six years to sanction funds for the Information Technology Investment Region (ITIR) in Hyderabad.
Unfortunately there was no response whatsoever from the Union government on this important initiative, Rama Rao said.
''Lakhs of local youth have been deprived of employment due to the lackadaisical attitude of the Union government,'' he said.
Since it is now amply clear that the Union government is not inclined to continue the ITIR scheme, KTR requested the Union Minister to consider providing a scheme/initiative in its place to ensure that cities like Hyderabad continue to flourish and provide employment to our youngsters.
''Cities like Hyderabad are the economic engines that contribute immensely to our country's economy. It is therefore important that such cities should be rewarded by way of new policy initiatives and incentives,'' Rama Rao said in the letter.
''The youth of Telangana are eagerly waiting for new employment opportunities that could be created with the support of the Union Government in the IT Sector. I make an earnest appeal on their behalf to use your good offices to announce an initiative on the lines of ITIR,'' Rama Rao added.
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